The Competition Bureau is calling on Canadians to weigh in on real estate commissions and policies of the Canadian Real Estate Association (CREA) as part of a probe into potential anti-competitive conduct.
In a statement on Thursday, the Competition Bureau said it had obtained a court order to advance its investigation into the possible conduct by the CREA related to rules about real estate commissions.
The investigation is looking to determine if the CREA’s commission rules discourage buyers’ realtors from competing to offer lower commission rates or has an impact on competition, such as higher costs for both buyers and sellers.
Under the CREA’s commission rules, the Competition Bureau notes, sellers’ agents are required to offer compensation to the buyers’ agents for properties listed on a Multiple Listing Services (MLS) system.
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The bureau is also trying to determine if the association’s cooperation policy makes it harder for alternative listing services to compete against those under the CREA, …